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Stanley Electric to pay $1.44 mln fine for price-fixing -U.S.

Wednesday, 27 Nov 2013 | 10:41 AM ET

WASHINGTON, Nov 27 (Reuters) - Japan's Stanley Electric Co Ltd has agreed to pay a $1.44 million criminal fine and plead guilty to a U.S. charge that it conspired to fix the prices of certain auto parts, the U.S. Justice Department said on Wednesday.

Stanley, which sold lamp ballasts to automakers in the United States and elsewhere, has also agreed to cooperate with the U.S. investigation as it goes on, the department said in a statement.